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on this or will we find ourselves flying over the fiscal cliff? >> obama has several problems. one is he doesn't want to throw the country into a worse economy and he's already created. he will extend the tax cuts for another two years. exactly what he did two years ago. the cuts in spending from the sequestration -- those will take it back. that is good for the economy because it is the only spending restraint. gerri: some people don't think so. especially with iran right now in parts of the middle east up in flames. we slow down spending on defense, let me say that? >> first of all, it is a defense of the spending increase. everyone knows there is a great deal that can be saved. we had their pensions that were saved. there is a lot that can and will be saved out of the budget. that is not his agenda. at the end of the day in the last election, he promised that he won't raise your taxes if you make less than $250,000 per year his promise, it is for one year only. he does have his tax increase for the rich people and he is still $7 trillion short. that is his goal. gerri: wow. i don't know where that
do not! >> greg: you haven't read my pamphlets yet. >> andrea: we never heard of obama's fiscal cliff leading up to the election. >> dana: on the front page of the "new york times" today. coming up, the obama administration repeatedly blamed this american film-maker, right there, you see him, for attacksen in n libya and muslim riots in the middle east after september 11. now he is held in jail for a year. greg gutfeld has intriguing proposal for the president. it's worth sticking around for. be right back. ♪ ♪ 5-hour energy? 5-hour energy supports the avon foundation for women breast cancer crusade. so i can get the energized feeling i need and support a great cause? i'm sold. pink lemonade 5-hour energy? yeah and a portion of every sale goes to the avon foundation for women breast cancer crusade. i'm sold. new pink lemonade 5-hour energy. get the alert, energized feeling you need and support breast cancer research and access to care. 6:00. now back to new york and five five. ♪ ♪ ♪ ♪ >> greg: okay. so the guy behind the anti-muhammad film sentenced to a year in jail for v
weekend. >> coming up. president obama faces the fiscal cliff as we were just talking about. republicans and democrats agreeing to work together to avoid dramatic cuts that could impact everything from the defense budget to your paycheck but that agreement has to happen soon. also ahead, a setback for recovery efforts in new york and new jersey as more gas rationing takes effect this morning. we'll be right back. alright let's break it down. mom, pop it. ♪ two inches apart, becky. two inches. t-minus nine minutes. [ ding ] [ female announcer ] pillsbury cinnamon rolls. let the making begin. ♪ that's been wrapped in a flaky crust stuffed with a gooey center toasted up all golden brown then given a delicious design? a toaster strudel. pillsbury toaster strudel. so fun. >>> people up in new york city are fuming after finding a fema mobile office closed due to bad weather. it is on staten island where people are struggling without power, food or water right now. volunteers organized their open disaster relief on facebook gathering food and clothes for disaster victims. the
. coming up, president obama puts the dukes up for the fiscal cliff showdown with congress. we'll have the latest on the bat to avoid fiscal cliff fiasco up next on fy. so don't go away. ♪ ♪ ♪ ♪ >> dana: president obama -- greg is singing and will bring you more of that later. first talk about president obama that made remarks at the white house earlier today addressing the looming fiscal cliff and reaching a deal with congress. listen. >> if we're serious about reducing the deficit, we have to combine spending cuts with revenue. that means asking the wealthiest americans to pay a little more in taxes. i want to be clear. i'm not wedded to every detail of my plan. i am open to compromise. but i refuse to accept any approach that isn't balanced. on tuesday night, we found out that the majority of americans agree with my approach. so our job now is to get a majority in congress to reflect the will of the american people. >> dana: before the president spoke, how majority leader john boehner held a news conference on the issue, too. >> i think we both understand the trying to find
fbi lo investiga, el presidente obama propone pacto a republicanos, para que el gobierno no caiga en un abismo fiscal que conducirÍa a otra recesiÓn, cacerolazo en argentina, miles protestaron fcorrupciÓn, e intuntos de reelecciÓn, y el presidente obama llorÓ al darle las gracias a trabajadores de campaÑa, veamos quÉ hay detrÁs de lÁgrimas de los polÍticos, comenzamos. ♪. ♪. >>> este es su "noticiero univisiÓn" con jorge ramos y marÍa elena salinas. >>> muy buenas noches, comenzamos el noticiero con la renuncia del director de la cia. el famoso general, conocido por estrategias de combate, renuncÓo por una relaciÓn extramatrimonial, no se confirma con quiÉn fue, el fbi lo estaba investigando, lleva 37 aÑos de casado, presentÓ su renuncia al presidente, y la aceptÓ, irma tiene la caÍda del que muchos consideran un hÉroe norteamericano. >>> la renuncia del general como director de la cia tomÓ por sorpresa a muchos, no solo por el hecho, sino por razones que dio para hacerlo, ayer en la tarde fui a la casa blanca, le pedÍ al presidente que me permitiera renu
with the impending budget faceoff that has the country teetering on the edge of a fiscal cliff. >> president obama will speak from the white house today about his game plan to grow the economy as well as cut the deficit. and republicans say they are ready to make it happen. abc's tahman bradley is in washington this morning. good morning, tahman. >> reporter: good morning, paula and rob. shortly after he was re-electioned, president obama called congressional leaders to discuss the so-called fiscal cliff. it's a major problem. it has to be solved by the end of the year. republicans and democrats have signaled they're ready to talk. but there's a major hurdle. a showdown's looming in washington, even as democrats and republicans strike a conciliatory tone post-election, both sides are set to collide over taxes. >> raising tax rates is unacceptable. and, frankly, it couldn't even pass the house. >> reporter: in an exclusive interview with abc news, house speaker john boehner drew a hard line on raising taxes. but opened the door of raising more revenue as part of a deficit reduction deal. >> i would
. this comes a day after the dow fell 121 points over fears of the so-called fiscal cliff. president obama will address the fiscal cliff this afternoon. he will likely urge congressional leaders to work together to come up with a solution. here's what's at stake. congress and the president must reach a budget deal by the end of the year or will face a combination of tax hikes and spending cuts. the nightmare scenario will see bush-era tax cuts expire and the alternative minimum tax kick in. that means more than half of all married couples with two children will have to pay an additional $4,000 a year in taxes. families with three or more children will owe $4,700 additional taxes. a temporary payroll tax cut would also expire. the most american workers will face a 2% tax increase. there will also be automatic spending cuts to a thousand government programs. >> and those spending cuts could have a devastating effect on northern virginia. a recent study found virginia could lose thousands of jobs because it has so many defense contractors and military agencies. virginia governor bob mcdonnell
of course, as we've been saying, president obama set to lay down his starting points on the fiscal cliff debate and what the economy needs to stay in recovery mode. a setting rich in theater coming just hours after the speaker of the house, boehner, made his case. >> indeed he did, ty. thank you. i'm sue herera, along with my partner tyler mathisen. john harwood and eamon javers are in washington as we countdown to the president's statement in a few minutes. we're hearing that the white house has invited congressional leaders for a meeting at the white house next week on the fiscal cliff. that seems to mean, john, to me anyway, a little bit of progress. what type of tone do you expect, john, the president to take in this next address? >> sue, i expect him to be conciliatory and reaching out to republicans the way john boehner has tried to strike that mode on capitol hill. two different white house specialists just told me the president will walk out here and announce he's invited the bipartisan leadership of congress to the white house next week to begin talks on the fiscal cliff. i have
. >>> president obama set to make first post-election comments today about actions needed to avoid so-called fiscal cliff we've been hearing about. that could plunge the economy back into resection. the president will be asking congressional republicans and democrats to work together to tackle the fiscal problems. he will be speaking from the white house 10:00 our time and you want to stay with abc7 morning news at 6:15 we go live to washington, d.c. for a preview of today's remarks. >>> traffic and weather together, next. here's a live look outside, golden gate bridge, looks like there might be a little mist nothing like the storms we had overnight. meteorologist mike nicco will tell you where those storms are going using live doppler hd. >>> also ahead, alaska airlines debuts a new fleet of aircraft. [ unintelligible ] >>> welcome back. one shower moving through the heart of san jose heading towards lincoln and almaden sliding to the south and east you can see it is going to head down 101 possibly to morgan hill as it heads into the higher country it is going to produce snow we talk
at charles and 20th streets. >> we'll hear from president obama today about avoiding the fiscal cliff. will republicans agree to tax increases? tracie potts has more. >> president obama is expected to urge congress to extend the bush tax cuts right away and cooperate to avoid the fiscal cliff. >> everyone will have to come to the table in the spirit of getting something done. >> democrats may have to take the hatchet to social security and medicare. republicans may have to raise taxes on the wealthy. john boehner signaled his party is open to new revenue. >> do not raise taxes. the government will get more revenue. >> john boehner also speaks today. >> we have to watch if the speaker and president are on different planets. >> it will still create a level of uncertainty going forward until everything is determined by a new congress. >> unemployment could hit nine per 1% next year -- unemployment could hit 9.1% next year. we could be looking at 3% growth next year. tracie potts, wbal-tv 11 news. >> now insta-weather plus and traffic pulse 11 together. >> good morning. sarah caldwell che
more money. president obama to address the impending fiscal cliff and a statement in the eastern tomorrow added to his schedule late this afternoon. the president is expected to lay out a number of steps required to keep our economy growing. reduce. i can't tell you how pleased i am to see the president addressing the volatility in these markets and the fundamental issues affecting the economy. the chief economist for moody's economist. >> i would not put my hopes to high. more stagnation and malaise in definitely. the administration takes a more positive approach toward promoting growth. lou: what would that be? >> they might want to pull back on regulation. they may want to pursue tax policies that are more supportive of growth. the first order of business is to resolve these issues surrounding the fiscal clef in a manner that is going to be constructive for the u.s. economy. lou: to you think that is the reason the market is selling off? >> that is one. relating to the fiscal cliff, the market is very much interested in the manner in which we might resolve the fiscal cliff
"fiscal cliff." mr. obama set to deliver a speech later this morning. if congressional democrats and the republicans don't reach a budget deal by year's end the bush-era tax cuts will expire and deep across-the-board cuts will kick in. vice president joe biden and others in washington are expressing confidence it can be avoided. >> we're not going over the cliff. we're determined not to go over the cliff. i think better heads will prevail. >> let's hope so. the congressional budget office predicts the "fiscal cliff" would send the unemployment rate skyrocketing above 9% next year. >>> time now is 5:11. forget black friday. which retailers want to get you in the door on thanksgiving. >> plus, creepy or totally natural? the breast-feeding babydol that has some parents outraged. coming up. ,, drivers off guard today. cbs reporter sean bennett in nyack with the conditions rt now. mick hodges tow truck driver "and they let a bunch of cas through without any chains d then it started sn here's all thes >>> snowstorm in the sierra caught drivers off guard. we see it snowing there. we can
of the fiscal cliff, but the big question is not what will president obama propose, but will republicans automatically oppose it like they have. did they learn anything on tuesday? do they know the american people don't want obstructionism, they want action. but first let's get the latest from lisa ferguson out in los angeles hi lisa, good morning. >> hey bill good morning, everyone. the fiscal cliff is a big issue moving forward and there is a showdown in store. while john boehner has offered up a bit of a compromise he and harry reid have different ideas. >> people making all this money have to contribute a little bit more. >> the congressional budget office are analyzing person provisions of the fiscal cliff. it finds letting these bush tax cuts expire is the least harmful way to improve the economy. but the gop would rather see lower rates and eliminating loopholes. yesterday senator chuck smumer called it a rumpled stillskin fantasy. earlier this week the president gave a very heart-felt speech to his staff and even teared up a bit. >> you guys -- [ inaudible ]
obama in his first post-election comment will address the nation's fiscal problems. susan mcginnis is in washington with more on all of this. >> reporter: good morning. you know, not everyone believes that the consequences of going over this fiscal cliff are going to be so severe. people are talking about a global financial crisis, another u.s. credit downgrade. those who do say there absolutely has to be a compromise. shortly after the confetti fell on election night both sides claimed victory in their vision of how to deal with the economy. >> there was a message sent to us by the american people based on the campaign. people making all this money have to contribute a little bit more. >> the american people made clear there's still a mandate for raising tax rates. >> reporter: president obama won the election on the idea that the wealthiest americans should pay more in taxes. a new study said the president's plan would increase revenue and slow economic growth by a tenth of a percent. >> good afternoon, everyone. >> reporter: republicans point to a different study. >> the i
negative after president obama's remarks at the top of the hour on the fiscal cliff on raising taxes. lori: you're not surprised. melissa: i don't know. remember dennis was celebrating at the end of last hour maybe this downward cycle had ended. that was enough and we were up 60 points. now we're down 11. let's head to the floor of the new york stock exchange. sandra smith is standing by. what are traders saying? >> i'm talk to one right now, ben willis. anytime president obama takes the microphone these markets sell off. that is the case in point. heard same thing from jason weisberg, anytime he takes the microphone we get a selloff. the dow has turned negative. barely negative down 10 points but a lot of traders focus on the s&p 500, a broader guage of the market, it is still positive. tech-heavy nasdaq is still leading stocks. it is positive. the focus is on the dow. if you look at a intraday chart of the dow, you'll see we hit the highs of the session just before president obama took to the mike phone. then we saw saw the big selloff. traders say uncertainty president obama does create
about america's fiscal cliff. president obama will address it head on today. we'll tell you what it means for your money. >>> tuesday's vote makes marijuana legal in colorado where nfl superstar peyton manning just invested in over two dozen pizza restaurants. >>> and newly released video of a suspected killer stealing and crashing a plane. the gruesome details ahead. >> announcer: this is "early today" for friday, november 9th, >> announcer: this is "early today" for friday, november 9th, 2012. captions paid for by nbc-universal television >>> good morning, everyone. i'm lynn berry. and today the focus is back to washington and whether the white house and congress can put aside campaign bitterness to reach a deal avoiding the so-called fiscal cliff. last night house speaker john boehner insisted he's optimistic about an agreement telling abc's diane sawyer he is, quote, the most reasonable responsible person in washington but he's also not backing off his stand on tax hikes. >> raising taxes on small business people is the wrong prescription given where our economy is. >> is it
later tonight. and again, the major developments of the day: president obama addressed the coming fiscal crisis for the first time since the election. he said again he won't accept a deal unless it includes higher taxes on the wealthy. retired general david petraeus resigned as director of the cia after acknowledging he'd had an extra-marital affair. and the u.s. supreme court agreed to hear a challenge to a landmark civil rights law, the voting rights act of 1965. and we have some dramatic photos of refugees fleeing syria online. hari sreenivasan tells us more. >> sreenivasan: they are images of the thousands of people who have escaped to turkey. watch our slideshow of refugees and turkish forces patrolling the border on the rundown. we have a follow-up to margaret warner's story about project orca, the romney campaign's massive get-out-the-vote effort. there were some glitches, as she reports. find that on "the rundown." and jeff talks to a member of the broadway hit "war horse" about bringing to life a seven- foot puppet on stage every night. all that and more is on our web site, news
obama talking to the nation the first time since he won the election. what will we do about the fiscal cliff. we have already heard from the speaker of the house. basically saying the ball is in the president court now. dennis kneale and cheryl casone are coming up next. that is all coming up. don't go away. ♪ dennis: dennis kneale. cheryl: i am cheryl casone. the worst week for stocks in half a year. the dow flatly positive, consumer sentiment rising to a more than five year high. dennis: washington obstinate over fixing the fiscal clip getting much of the blame. and we will hear from president obama in a little over an hour. cheryl: gasoline rationing, 11 days after superstorm sandy and no end in sight at this point. sandra smith standing by on the floor. sandra: good afternoon. we are looking at the dow down 43 points. the nasdaq and s&p 500, on a higher percentage point. maybe you haven't heard of this, but the international game technology company that makes slot machines and based out of las vegas reported great profits, better than expected on strong sales of slot machines but
. >> president obama is urging congress to act to avert this fiscal cliff. he is planning to meet with leaders of both parties in the white house next week. >> here is a look at some of our other top stories at this hour. cia director david petraeus has resigned to night because of an extramarital affair. in his letter of resignation, he said he asked president obama for permission to step down, saying his behavior was unacceptable as a husband and an official. president obama did accept the resignation. he said the four-star general has made our country safer and stronger. transportation officials have confirmed that they are investigating theft and misconduct by transportation department personnel. an extensive investigation has revealed employees received more than $58,000 in scrap metal proceeds over a period of five months. right now, three supervisors have been suspended without pay and a dozen employees are recommended for termination. crews continue their work to night to repair the 60 inch water main that broke a 28 and charles street -- at twentieth and charles street in midtown. cre
fiscal cliff. >> reporter: well, president obama began his remarks saying now that the campaign is over, it's time to get back to work and there is a lot of work to do. but will there be consensus on capitol hill and will it all happen in time to avoid this fiscal cliff especially when both sides are still drawing battle lines. the speech lased eight minutes. >> on tuesday they said loud and clear that they won't tolerate dysfunction, they won't tolerate politicians who view a dirty word. >> 2013 should be the year we begin to solve our vet through tax form and entitlement reform. i'm proposing there will be a birth of fiscal cliff in a manner that ensures that 2013 is finally the clear that our government comes to grips with the major problems that are facing us us. >> i refuse to accept any approach that isn't balanced. i'm not gonna ask students and seniors and middle-class families to pay down the entire deficit while people like me making over $250,000 aren't asked to pay a dime more in taxes. [ applause ] >> i'm not gonna do that. >> reporter: the deadline is fast approaching and
of the frederick area on 270. >> 4:32 rainout. president obama speaking about the potential impact of the fiscal cliff. virginia taking steps to prepare for a worst-case scenario. bob mcdonnell said two weeks to find ways to cut cost. >> of government -- we will have less customers and be in trouble. >> businesses are not doing too well already. >> if congress fails to act, the economy could shrink by one half percent. the unemployment rate could soar to 9.1%. >> the president got emotional while addressing campaign staffers in chicago. >> i am really proud of that. >> the campaign released a five minute video of his speech that came one day after he won reelection. >> president obama weighing replacements for several aides and cabinet members expected to leave it. the treasury secretary timothy geithner, hillary clinton, and leon panetta will leave sometime next year. >> the former democratic committee chair said he will make a second attempt to become governor of virginia. he ran for governor in 2009 but lost in the primary. the lieutenant governor is also seeking the republican nomination. >>
"fox & friends first". >> time for the 5@5:00. with the election in the rearview mirror president obama will have to address the looming fiscal cliff before it is too late. he will talk about his plan to avoid the economic crisis. if congress fails to reach a deal on handful of issues by the end of the year. those issues include tax breaks set to expire and 800 billion in sequestration cuts. they want those owning 250,000 a year to pay more in taxes. house speaker john boehner says tax cuts are unacceptable. >> i remain optimistic we will be able to find common ground, find a way to work together. the leblgs is over. we have to get to work. >>> the congressional budgity office issuing a warning. if a compromise is not reached by the end of the year the economy could slip back into a recession. >>> law americas might not get the answers they are looking for after all about the deadly benghazi terror attacks. congressional hearings will be closed to the public. fox news learned some of the suspects in the attack were part of an egyptian terrorist group. the network made up of violent extr
but president obama says we could avoid the fiscal cliff. i'm michelle griego. >> and the president addressed the nation, and quick action to keep all american taxes from going up on new year's day. >> cbs5 reporter cate cauguiran watched the address and is breaks it down. >> what does it really mean for everyone in california. >> reporter: there is a new report that shows the bay area's job market could grow faster than the state of california and the nation over the next two years, but our economic growth could go downhill with this looming fiscal cliff. >> right now, if congress fails to come to an agreement on an overall deficit reduction package by the end of the year, everybody's taxes will automatically go up on january 1 january 1st. everybody's. >> reporter: just hours ago the president warned lawmakers the deadline is approaching. economists say the fiscal cliff could throw the economy back into a recession. both republicans and democrats emphasize compromise. >> this is an opportunity for the president to lead. this is his moment to engage the congress and work towards a solution t
obama will finally tackle the fiscal cliff in a delivered statement. we are going to get you the details. there's been a 400-point-plus selloff since the election. we could be staring at a dividend tax and a capital gains tax hike. superstar investor ken hebner tells us how to get through this period. >>> also, american drone and international airspace days before the election and kept secret until now. is that a coincidence? >>> and on election day, voters in two states allowed recreational use of marijuana. is this the gateway to liberals legalizing rampant drug use in this country? janine turner is going to join us. >>> within the hour, word that president obama will make a statement on the fiscal cliff and the economy at 1:00 p.m. tomorrow. the congressional budget office issued a new scenario of what happens if the president and congress fail to act. eamon javers joins us now with the details. good evening, eamon. >> reporter: good evening, larry. as you say, we're getting news tonight we're going to get dueling appearances tomorrow between speaker john boehner and president barack
president obama on the fiscal crisis threatening our nation. welcome. i and shannon bream and four megyn kelly. shannon: if he and lawmakers cannot reach a deal for the end of the year, not only will there be major spending and budget cuts, but americans will see some $536 billion in additional taxes. effecting ae% of u.s. households. to the tune of $3500 on average per household. we have fox team coverage as we await the president's remark. analysis from bret baier. but first, ed henry is standing by live. what can we expect? >> good afternoon, shannon. the president will announce at the beginning of his remarks that he is inviting congressional leaders to the white house next week. as congress comes back in session. that is to try to jumpstart the conversations about the fiscal cliff. economists are predicting that we could have a double dip recession if the economy gets the double whammy of massive spending cuts kicking in on january 2. and a big tax increases kicking in. the president celebrating in chicago. the sobering reality of governing is setting in here. the president is
trends. >>> plus what will obama do about the looming fiscal cliff? we'll have plenty of analysis from commentators. >> and we'll hear first from the cfo of aliance. but first day two data suggested growth is picking up and inflation is moderating meaning beijing may have more scope to ease if necessary. ppi industrial output and retail sales all came in better than forecast. eunice joins us from beijing. i'd hate to suggest this is quite good timing for this data. very convenient. >> what are you suggesting? a lot of people are saying that the numbers are showing the economy is bottoming out and a lot of people do use the numbers as a guideline at least. they're saying the investment figures were encouraging. looking relatively strong. the government hasn't put up of much money in the infrastructure projects, so that's part of the equation here. other part is retail and consumption side actually look pretty good. numbers came in at 14.5% growth and that beat expectations. a lot of that was because people are buying more food as well as automobiles. now, the whole picture looks as thou
, el presidente obama se refirio a que no quiere dramas para evitar el llamado "precipicio fiscal." presidente obamaestoy abierto al compromiso. estoy abierto a nuevas ideas. tengo el compromiso de resolver nuestros desafios fiscales, pero me niego a aceptar propuestas que no sean balanceadas. pero que es el precipicio fiscal? es el plazo a fin de ano para decidir si se mantienen o no las rebajas de impuestos y evitar recortes prespuestarios al gobierno federal. segun 1 economista, republicanos y democratas deberan ponerse de acuerdo para subir los ingresos del gobierno. de lo contrario. isaac cohen, economistapueden subir los impuestos porque las rebajas programadas por el presidente bush y prorrogadas por el presidente se eliminarian por 1 parte. por otra parte creo que vendria 1 recesion en estados unidos y eso obviamente causaria 1 impacto sobre el empleo. organizaciones conservadoras quieren que se e
. >>> president obama inviting leadership to avert the fiscal cliff of tax increases and spending cuts due to hit in january. mr. obama said he's open to compromise and new ideas. what the president said higher taxes on the wealthiest americans are an essential part of dealing with the nation's deficit. republican house speaker john boehner is pushing for lower tax rates. now, let's fast forward to the weather. doug? >> the weather today, pretty good. not bad at all with plenty of sunshine and temperatures higher than they have been thealist few days and 54 degrees out there right now in washington and notice back to the west, 82 in dallas and 70 in st. louis and 70 in memphis and that's going to be a nice warm up coming our way as temperatures will move close to that 70 degree mark later this weekend. we'll talk about that and what our next storm will bring in just a few minutes. >> all right. >>> living next to a train or bus stop makes it easier to move around our area, but just how well does the public transportation near you connect you to your job. adam live in boston with results from a ne
of the fiscal cliff. both president obama and house speaker john boehner today came out warning the consequences of not reaching a deal would be devastating to the u.s. economy but they don't have a lot of time here. >> no, they don't. the president spoke on this today, not mentioning what was going on behind the scenes with the cia. consider the timeline here. there are only 53 days now left for congress to get to work and get this deal done in order to raise the debt ceiling this year congress put this countdown clock in effect and it has now unt january 1 to get it done. if nothing gets done, your payroll taxes could go up. the bush era income tax cuts would end and 449,000 defense industry jobs across virginia, maryland and d.c. could face layoffs if these automatic pentagon cuts are allowed to go forward. at the white house this afternoon the president spoke in front of what the administration called average americans. those special era tax cuts would expire. add to that deep spending cuts that will kick in. all of this has economists warning tonight of a double dip recession and possible
of the travel problems that would create. >>> now, to the fiscal storm. today president obama and republican house speaker john boehner both laid out ideas to avert the so-called fiscal cliff. tax increases and spending cuts are due to hit in january, but today it seemed the two leaders and the bipartisan deal are still worlds apart. steve handelsman is on capitol hill with more on that. steve? >> you got it right. this is a restart of a high-stakes negotiation between those two men. the president and the speaker. the problem is beginning today where they left off, which is far apart. in a speech at the white house, president obama claimed the election proved most americans agree with his plan. that he calls balanced. cutting spending and hiking taxes to avoid the fiscal cliff. he said he's flexible -- >> but i refuse to accept any approach that isn't balanced. i am not going to ask students and seniors and middle class families to pay down the entire deficit while people like me making over $250,000 aren't asked to pay a dime more in taxes. >> reporter: he's calling in members of congress f
, president obama said during the campaign, the fiscal cliff was not going to happen. today, he makes his first post- election speech from the white house to outline how he plans to avoid it. the president has been back at the white house for just one full day. but on that day -- but on that day, the officials say the fiscal cliff and tax increases would push the economy into another recession and cause a jump in unemployment. on the campaign trail, the president made clear, he wants a deal with congress that includes tax reforms and new incentives for businesses that keep jobs in the united states. but he also wants tax increases on wealthier americans and republicans are consistently saying that's something something they are not going to -- that's something they are not going to consider. reporting live from alison burns, ktvu channel 2 news. >>> ktvu will bring you the president's speech this morning live right here on channel 2. again it's scheduled to begin at 10:05 this morning. we'll also live stream the president's speech on our channel 2 website, cute -- >>> back here
an extra marital affair. >>> president obama took a strong stand on taxes for the rich, but could set the stage for a showdown on how to avoid that fiscal cliff. >>> a community in prince george's county but years later they still don't have much more than empty fields and a pile of dirt. good evening, i'm jim. >>> now the process is under way to find a permanent replacement. chris k clackm has the latest. >> reporter: david petraeus who took over at the cia in 2011 wrote "after being married for over 37 years, i showed extremely poor judgment by engaging in an extra marital affair. both behavior is unassessmentable as a husband an as the leader of an organization such as ours." petraeus resigns just days after his boss won re-election and president obama accepted it saying about petraeus and his wife, holly, i wish them the very best at this difficult time. >> it's a lite bit too soon to tell today because of how sudden this was. but for lack of a better term, petraeus is a legend one of the few generals to get so much credit for so many things. >> reporter: scheduled to testify at h
in his position through president obama's inauguration next year to help with fiscal cliff negotiations. but geithner has said he will not stick around for the rest of the president's second term. treasury secretary is a demanding job and a key assignment in the upcoming negotiations over tax reform and budget cuts. darren gersh details the likely candidates for treasury secretary. >> reporter: jack lew is the name most-mentioned to replace tim geithner at treasury and he is by far considered the man to beat. lew was twice head of the office of management and budget and he's now the president's chief of staff. >> he is an incredibly hard worker. he is very bright. he has a very deep experience base. he is extremely honest. if you are negotiating with him, you will get nothing but the truth and you can take that to the bank. all those things, you put them together it's not the most common package in washington. >> reporter: republicans are wary of lew, believing he bested them in budget negotiations last year. but the president trusts him and his pick would be a sign of just how importan
the perfect economic storm known as the fiscal cliff. a combination of tax increases and budget cuts could send the united states back into recession. >> barack obama back at work after his election reached out with republicans today saying he wants to reach a solution but only f the ridges are asked to give more. >> i'm open to compromise. i'm open to new ideas. i'm committed to solving our fiscal challenge, but i refuse to accept any approach that is not balanced. i'm not going to ask students and seniors, middle-class families, to pay down the entire deficit while people like me, making over $250,000, are not asked to pay one dime more in taxes. i'm not going to do that. "the very clear word from the newly elected president. what do you think? you have the president inviting congress to the white house next week. is this going to be the meeting where we avoid the fiscal cliff? >> i don't think so. i think republicans and democrats are going to come together to the white house and they will begin their negotiations. this will take a while. it will take a few weeks. democrats and republic
to stand firm on the fiscal krif. this tweet -- president obama should stand true to his promise and go off the fiscal cliff and make sure the rich pay a fair share. >>> and ds butte tweeds dems should take it to the road for the people to know what's happening. keep sharing your thoughts with us. >>> still to come, the conservative alternative reality comes crashing down and the american public isn't buying their lies. stay tuned. >>> ed show survey tonight, i ask you does the president's victory give him more leverage in the economic fight? 98% say yes, 2% say no. i thought that would have been 100%. >>> next, the republican spin on this election is a great example of the alternative reality they live in. it's been two days since president obama's win and they're still making stuff up. michael of t"the daily beast" will tell us just how long the republicans can keep these lies going. [ female announcer ] what does the anti-aging power of olay total effects plus the perfecting color of a bb cream equal? introducing the newest beauty trend. total effects cc cream c for color. c for correcti
-- president obama should stand true to his promise and go off the fiscal cliff and make sure the rich pay a fair share. >>> and ds butte tweets dems should take it to the road for the people to know what's happening. keep sharing your thoughts with us. >>> still to come, the conservative alternative reality comes crashing down and the american public isn't buying their lies. stay tuned. [ male announcer ] when was the last time something made your jaw drop? campbell's has 24 new soups that will make it drop over, and over again. ♪ from jammin' jerk chicken, to creamy gouda bisque. see what's new from campbell's. it's amazing what soup can do. the capability of a pathfinder with the comfort of a sedan and create a next-gen s.u.v. with best-in-class fuel economy of 26 miles per gallon, highway, and best-in-class passenger roominess? yeah, that would be cool. introducing the all-new nissan pathfinder. it's our most innovative pathfinder ever. nissan. innovation that excites. ♪ and one wedding, 2 kids, 43 bottles of olay total effects many birthdays later, still looks amazing. thanks to t
point crews were on the roof to get to hot spots. >>> president obama is set to make his first post-election comments today about actions needed to avoid the so-called fiscal cliff. tahman bradley is in washington and joins us with more. >> reporter: good morning. shortly after president obama was reelected, he called congressional leaders to talk about the so-called fiscal cliff. it is a major issue that needs to be resolveed by the end of the year. democrats and republicans say they are willing to talk but there's major hurdles. showdown looming, as democrats and republicans strike a conciliatory tone post-election both sides are set to collide over taxes. >> raising tax rates unacceptable. and it couldn't even pass the house. >> reporter: in an interview house speaker boehner drew a hard-line on raising taxes but opened the door to raising more revenue. >> i would do that, if the president were serious about solving our spending problem and trying to secure our entitlement programs. >> reporter: democrats think the president has a mandate to raise taxes on families making more th
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